Enlarge / Founder & CEO of Theranos, Elizabeth Holmes.
The once-darling Silicon Valley startup that promised to revolutionize the blood-testing industry and fetched a valuation of $9 billion may have finally been dealt a death blow.
The Securities and Exchange Commission on Wednesday charged Theranos Inc., its founder and CEO Elizabeth Holmes, and former President Ramesh “Sunny” Balwani with “ massive fraud ” after a lengthy investigation. The SEC alleges that they raised $700 million in investments by orchestrating an “elaborate, years-long fraud in which they exaggerated or made false...Read more ...